Price predictions of major cryptocurrencies

Key points:

• Bitcoin price hangs near $97,000 as traders await today’s FOMC minutes.

• Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.

• Select altcoins are holding their respective support levels, opening the gates for a short-term rally.

Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks.

Investors have also been piling into BlackRock’s spot Bitcoin exchange-traded fund for the past 16 days, which has boosted its new capital inflows to about $4.7 billion, according to ETF Store President Nate Geraci.

Bloomberg ETF analyst Eric Balchunas also suggested that the spot Bitcoin ETF “will have triple gold’s ETF assets under management in 3 to 5 years.”

According to Bitfinex data, Bitcoin must hold above $95,000 to signal a “structural shift” into bullish territory, opening the doors for a rally to an all-time high. However, if the $95,000 level cracks, the analysts expect Bitcoin to witness a deeper correction.

Could Bitcoin challenge the $100,000 resistance? Are select altcoins showing signs of a short-term up move? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin rebounded off the 20-day exponential moving average ($93,091) on May 6, indicating that the sentiment remains positive and traders are buying on dips.

There is minor resistance at $97,895, but if the level is crossed, the BTC/USDT pair could challenge the psychological resistance at $100,000. Sellers are expected to vigorously defend the level because a break above it could propel the pair to $107,000.

Time is running out for the bears. If they want to make a comeback, they will have to sink and sustain the price below the 20-day EMA. If they succeed, the pair could tumble to the 50-day simple moving average ($87,441).

Ether price prediction

The bears are struggling to pull Ether (ETH) below the moving averages, indicating a lack of selling at lower levels.

Buyers will try to take advantage of the situation and push the price above the immediate resistance at $1,873. If…